CEO donates $3.7 million bonus to employees

Gift is gesture of appreciation

UPDATED 12:49 PM EDT Apr 19, 2013

British boss Lord Wolfson, CEO of clothing retailer Next, is giving his $3.7 million bonus to the people who matter most: his employees.

The Telegraph reports that he told his workers in an email that the gift was a "gesture of thanks and appreciation from the company for the hard work and commitment you have given to Next over the past three years and through some very tough times."

Wolfson, 45, who became CEO of the company at 33, has been commended for his charitable move, but some also say that its a small offering considering his already-excessive executive pay.